Check it out, this is the very first iAd produced for Europe, and also an iAd advertising first for Renault, who has taken a huge leap forward with it’s new “Twizy” electric concept car.

The iAd, like the very few before it, is quite simple to interact with, visually quite punchy, and has enough depth to keep users interested for a minute or two by taking them through an educational experience around the new “Twizy” electric concept car. The app explores all the key features of the car (and how it works), along with showing fuel and cost comparisons to things like scooters to assist in selling the electric deam, but more importantly, it is surveying where people would like to see “electric” charge stations installed in the future.

I think there is plenty of merit in using iAds to create, challenge and engage in conversation directly with iPhone users, and I suspect we’ll see a big push this way in 2011 as a raft of big brands take to the iAd space looking to do more with their ads. Created by the guys at Digitas France.

Good in theory… big question is how much engagement will we actually see in reality.

I think the real value of iAds is in premium iPad published content (books, magazines, newspapers). It’s cool to be able to twist, turn, and otherwise engage with the ad content that users are actually interested in seeing. I don’t like the idea of the add taking over the entire screen though, which is why I don’t see this being a revolutionary ad platform for handheld devices. Need at least 7+ inches of screen real estate to really leverage these things to their full potential.